Shell Vice President: Russian gas exports to double by 2020

According to analysts at Shell oil company by 2020 Russian gas exports should double compared to 2000, said Shell Vice President for Russian, Caspian Region and Southeast Europe Martin Bakman.

He said that his forecast was based on the fact that 'demand for Russian gas in Europe is growing, while at the same time the demand for gas on the domestic European market is declining.' In order to satisfy the growing demand of gas on the European and Russian markets, Russia needs to develop new fields and attract investment. Moreover, to satisfy the growing consumption of Russia gas, the government needs to 'conduct commercialization of the gas sphere, liberalization of prices and entirely reform the gas sector,' he said. Bakman also said 'Eastern Asia is a promising growing market for Russian gas."

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